KARACHI: Dexterite, a UAE-based company, entered into a Memorandum of Understanding (MoU) with the Board of Investment (BoI) here on Monday.

The MoU was inked by Dany Gangnon, president and Chief Executive Officer of Dexterite, and Saleem Mandviwalla, Minister of State for Finance and Economic Affairs and Chairman BoI.

Later, Saleem Mandviwalla told mediamen that Dexterite is a company that helps in distribution system of electricity and after the signing of this MoU this firm will work out as to what investment is required in our distribution companies and what kind of assistance they can provide to our distribution companies.

He further stated that they will extend assistance technically, financially as well as in the form of infrastructure in accordance with the requirements.

" I think we need investment and support from such companies in our distribution network", Mandviwalla remarked and hoped that the Dexterite will be able to deliver to our distribution companies.

He said that we had been waiting to sign this very MoU for the last two months and that the required formalities in this regard were completed a few days ago.

Mandviwalla was optimistic that the Dexterite will help in effective distribution system of electricity.

Distribution loss is actually a big problem in our utility companies, he added.

Dany Gagnon, president and CEO of Dexterite, said on the occasion that his company has been working on the power distribution network performance network improvement throughout the world.

" We will help Pakistan with the improvement of their power distribution network by implementing mostly information systems solutions", he added.

Dany further pointed out that his company has made some proposals to some of the distribution companies.

He said we will hold meetings with the representatives of the distribution companies in the next few days.